MONTREAL,
Aug. 26, 2022 /CNW
Telbec/ - IOU Financial Inc. (TSXV: IOU) ("IOU Financial" or the
"Company"), a leading online lender to small businesses
(IOUFinancial.com), announced today the change of its auditor from
PricewaterhouseCoopers LLP (the "Former Auditor") to KPMG LLP
("KPMG") effective August 26,
2022.
IOU Financial's board of directors accepted the resignation of
the Former Auditor, which resigned of its own initiative, effective
August 26, 2022, and appointed KPMG
as its auditor effective on the same date and until the close of
the Company's next annual general meeting of shareholders.
There was no modified opinion in the Former Auditor's audit
reports with respect to the Company's financial statements for the
two most recently completed fiscal years. In the opinion of the
Company, no "reportable events" (as this term is defined in
National Instrument 51-102 - Continuous Disclosure
Obligations) has occurred between the Company and the Former
Auditor.
In accordance with National Instrument 51-102, the Notice of
Change of Auditor, together with the required letters from the
Former Auditor and the Successor Auditor, have been reviewed by the
audit committee and the board of directors and have been filed on
SEDAR.
On behalf of the Company's shareholders and Board of Directors,
I would like to express our sincere gratitude to
PricewaterhouseCoopers LLP for their past services", said Mr.
Evan Price, IOU Financial's Chairman
of the Board of Directors.
"We look forward to working with KPMG in the future", said Mr.
David Kennedy, CFO of IOU
Financial.
About IOU Financial Inc.
IOU Financial Inc. is a wholesale lender that provides quick and
easy access to growth capital to small businesses through a network
of preferred brokers across the US. Built on its proprietary IOU360
technology platform that connects underwriters, merchants and
brokers in real time, IOU Financial has become a trusted
alternative to banks by originating over US$1 billion in loans to fund small business
growth since 2009. IOU was named one of the 50 Best Places to Work
in Fintech for 2022 by American Banker and trades on the TSX
Venture Exchange under the symbol IOU (TSXV: IOU), and on the US
OTC markets as IOUFF. To learn more about IOU Financial's corporate
history, financial products, or to join our broker network please
visit www.IOUFinancial.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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SOURCE IOU Financial Inc.